Stocks rose, sending the Dow Jones Industrial Average to a record, and Treasuries gained as Federal Reserve officials said weakness in the U.S. economy warrants continued stimulus. Oil led commodities up from a four-month low while the yen and dollar weakened.

U.S. and European stocks slid, the euro weakened and commodities declined after data showed an unexpected contraction in German manufacturing and Cyprus’s president worked on a new plan to obtain a European bailout.